§ 27-18.2-4. Loss ratio standards.
Medicare supplement policies shall return to policyholders benefits which are reasonable in relation to the premium charged. The director shall issue reasonable regulations to establish minimum standards for loss ratios of Medicare supplement policies on the basis of incurred claims experience, or incurred health care expenses where coverage is provided by a health maintenance organization on a service rather than reimbursement basis, and earned premiums in accordance with accepted actuarial principles and practices.
History of Section.P.L. 1988, ch. 631, § 2; P.L. 1989, ch. 428, § 1; P.L. 1990, ch. 218, § 1; P.L. 1992, ch. 445, § 4; P.L. 1993, ch. 180, § 12.
Structure Rhode Island General Laws
Chapter 27-18.2 - Medicare Supplement Insurance Policies
Section 27-18.2-1. - Definitions. [Effective until July 1, 2023.]
Section 27-18.2-2. - Applicability and scope.
Section 27-18.2-3. - Standards for policy provisions. [Effective until July 1, 2023.]
Section 27-18.2-3.1. - Premium rate review. [Effective July 1, 2023.]
Section 27-18.2-4. - Loss ratio standards.
Section 27-18.2-5. - Repealed.
Section 27-18.2-6. - Disclosure standards.
Section 27-18.2-7. - Notice of free examination.
Section 27-18.2-8. - Filing requirements for advertising.
Section 27-18.2-9. - Administrative procedures.